E-commerce grows rapidly, tax revenue in 11 months reaches 108,000 billion VND

ANTD.VN - Tax revenue from organizations and individuals operating e-commerce businesses in the first 11 months of this year increased by 22% compared to the first 11 months of last year, reaching 108,000 billion VND.

Tax revenue has been steadily increasing in recent years. According to tax authorities, last year, tax revenue through e-commerce channels was VND3.5 trillion (about USD146 billion), with VND97 trillion in tax paid. This figure increased by 14% compared to a year earlier.

Thus, the revenue for the first 11 months of this year is even about 10,000 billion VND higher than the revenue for the whole of last year.

E-commerce tax collection increased sharply

Regarding foreign suppliers, the General Department of Taxation said that there are currently 116 foreign suppliers registering for tax via the electronic portal. These foreign suppliers have paid more than VND8,687 billion in taxes in the first 11 months of the year, an increase of nearly 26% compared to the same period in 2023.

Thus, accumulated from March 2022 - the time the electronic information portal for foreign suppliers was put into operation, foreign enterprises have paid about 20,000 billion VND.

Among them, big names such as Meta (Facebook), Google, Microsoft, TikTok, Netflix, Apple... hold about 90% of the market share of cross-border e-commerce service revenue in Vietnam.

It is expected that in the coming time, e-commerce tax revenue will continue to increase strongly as the scale of this market in Vietnam continues to increase. According to the e-Economy SEA 2024 Report, this year, the scale of Vietnam's e-commerce market is estimated to reach 22 billion USD, ranking 3rd in Southeast Asia, after Indonesia (65 billion USD) and Thailand (26 billion USD).

E-commerce growth rate in Vietnam this year is 18%, only behind the Philippines (23%) and Thailand (19%).

Along with the remarkable growth, in recent times, the tax industry has continuously proposed solutions to better manage revenue in this field, in which, tax authorities use artificial intelligence (AI) and big data to control sales revenue on e-commerce platforms.

At the same time, the regulation on e-commerce platforms declaring and paying taxes on behalf of sellers, applied from January 1, 2025 according to the Law on Tax Administration (amended), will help tax authorities better cover this source of revenue.

Source: https://www.anninhthudo.vn/thuong-mai-dien-tu-tang-truong-than-toc-thu-thue-11-thang-dat-108000-ty-dong-post597898.antd